HyperFund Operator Faces Multiple Charges Including Fraud and Money Laundering

According to Foresight News, the U.S. Department of Justice has announced that HyperFund operator Brenda Chunga faces 11 charges, including conspiracy to commit wire fraud, two counts of wire fraud, seven counts of money laundering, and operating an unlicensed money transmitting business. If convicted on all counts, Chunga could face up to 20 years in prison. Previously, Foresight News reported that the U.S. Securities and Exchange Commission (SEC) charged HyperFund scheme operators Xue Lee and Brenda Chunga with fraud and unregistered securities issuance in January 2024. From June 2020 to early 2022, Lee and Chunga raised over $1.7 billion from investors, promoting HyperFund as a profitable mining business opportunity. However, it was revealed to be a Ponzi scheme without genuine revenue sources, leading to its collapse in 2022 and significant losses for investors.